Episode 141: Market Update - But Is It Really A Bad Time To Buy?

In our latest market update, Rebecca dives into the conversation with expert sponsors Joe Smith, Tara Krieg, and Anthony Penna to discuss the current state of the market📈 and what you should consider if you’re buying or selling in the next few months.🤔 And don't just take our word for it, check out the clip from Barbara Corcoran (Shark Tank Investor) on why she thinks now is the best time to buy. We will also cover topics like why you should consider selling if you’re nearing the top of your capital gains, the Cromford index chart explained, and the fact that people are still spending despite the inflation and recent rate hikes. Be sure to tune in for the most up-to-date insights and information on what the current market trends mean for buyers and sellers. Also don't forget to check out our Show Extras Tab to see all of today's charts, graphs, & PowerPoints for yourself! Listen & Learn: 1:05 - Rebecca intros Joe, Tara, & Anthony 2:57 - Clip of Barbara Corcoran’s thoughts on the current market 5:09 - What happened last week with the interest rates 5:35 - Tara’s thoughts on the raising of the fed funds rate 6:11 - Joe's opinion on the rate hike 7:36 - Does Barry Habib think rates are going to come down any time soon? 8:06 - Anthony’s thoughts on the current rates 11:30 - Why you should consider selling if you’re nearing the top of your capital gains 13:45 - Cromford index chart explained 16:00 - People are still spending despite the inflation and rate hikes 20:22 - Anthony’s slide presentation - wrong predictions for 2023 23:55 - What is really happening in the market 25:51 - Chart “Appreciation skyrocketed in the last 3 years” 27:05 - Cromford chart on average sales price per sqft 29:34 - Tara’s chart “new household formations vs builder completion” 32:22 - We do not have enough inventory to meet the demand for housing 33:53 - Betting against the champ 35:36 - Available inventory chart 37:40 - Joe’s thoughts on buying and selling in the next couple of months 39:30 - Tara’s thoughts on buying and selling in the next couple of months 40:30 - Anthony’s thoughts on buying and selling in the next couple of months 41:50 - Rebecca’s thoughts on selling in the next couple of months 45:14 - Rebecca’s final thoughts Special Guests: Anthony Penna - Senior Vice President at Navi Title: "There is nothing more satisfying than helping people achieve their goals by providing them with opportunities to excel in their business. It’s an awesome process that I feel very fortunate to be a part of." Navi Title Agency is an Arizona-based full-service title agency. They offer competitive escrow and title solutions complemented by a strong tradition of grassroots standards. Phone: [phone] Email: [e-mail] Website: www.navititle.com/ Joe Smith - Owner/Broker of Epic Mortgage: Joe Smith first started in the mortgage business in 2002 as a loan officer. He quickly established himself as a top producer, eventually managing the state of Arizona for a top 10 mortgage lender. After 17yrs in traditional retail banking, working for many top companies in the mortgage business he decided to make a jump to becoming a mortgage broker himself. Currently, Joe is the Broker and Owner at Epic Mortgage and is definitely someone you're gonna want to go to for advice on lending! Phone: [phone] Email: [e-mail] Website: www.myepicloan.com Tara Krieg - Owner of TK Team Lending: Licensed to provide mortgages and loan programs for homeowners and buyers within Arizona, she has over 12 years' experience in all aspects of real estate finance, real estate investing, mortgage planning, and business planning. Her specialties include loan origination, credit education, mortgage-related financial consulting and planning, and personal coaching of Junior Loan Officers. Phone: [phone] Email: [e-mail] Website: www.tkteam.us